Ghana has had to run to the International Monetary Fund for financial bail out to save the country’s economy. Months ago government had refused all voices that mentioned that the government was going broke. Now it has become so clear that things aren’t well and the nation is heading to bankruptcy. International rating agencies have downgraded the country preventing the country from gaining loans. Coupled to this has been the fall of the cedi to the dollar.
Perhaps, the government views the commentary from the opposition NDC as mere propaganda and have refused to listen. Interestingly, many outside the opposition have also been speaking. One of them is Steve Hanke, a professor of Applied Economics at the John Hopkins University. Steve Hanke has been a vocal critique of the Ghanaian economy of late.
The learned man in various tweets has criticized the government at the way they have handled the economy. On GHToday on GHOne, Kwame Jantuah, a lawyer and head of the political desk of the CPP called on Akufo-Addo to act fast because the nation is losing credibility. Mr. Jantuah said Steve Hanke has a point but his analysis is destroying the reputation of Ghana. He called on president Akufo-Addo to invite the learned professor and have a lengthy chat with him and find ways to save the economy.
The question however remains as to whether an interview can save the economy. And even if there is an interview, will the government listen? The Akufo-Addo government have blamed everybody but themselves on how the economy has turned out to be.
Government communicators have pointed hands at the external shocks of Covid-19 and the Ukraine Russian war. Or is Mr Jantuah asking the president to caution and silence Steve Hanke from speaking on issues on Ghana? Check out yesterday’s tweets from Steve Hanke on Ghana’s economy.
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